SPX: Reached its Climax! What's Next? 🤔
• The SPX did correct to the 21 ema, exactly as we expected in my previous analysis (link below this post, as usual);
• Now it is going up again, trying to resume the bullish sentiment, but in order to confirm that, it must break the red line at 4,015;
• If the SPX breaks this red line, it’ll trigger a pivot point, and in this scenario, the next resistance around 4,100 is the next target;
• What could go wrong? If the SPX fails in breaking this red line, and loses the 3,889 again. That could be a Double Top chart pattern;
• As long as it stays above its support levels, it’ll be fine, but a true reversal would only come if we trigger the pivot point;
• I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• Now it is going up again, trying to resume the bullish sentiment, but in order to confirm that, it must break the red line at 4,015;
• If the SPX breaks this red line, it’ll trigger a pivot point, and in this scenario, the next resistance around 4,100 is the next target;
• What could go wrong? If the SPX fails in breaking this red line, and loses the 3,889 again. That could be a Double Top chart pattern;
• As long as it stays above its support levels, it’ll be fine, but a true reversal would only come if we trigger the pivot point;
• I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.